Homebuyers Reports

Ten out of ten – latest economic figures show that the UK’s economy has grown for its tenth successive quarter.
The Office for National Statistics (ONS) revealed that growth for the second quarter of this year (April, May and June) was 0.7%.
That is an increase on the 0.4% in the first quarter of the year (January, February and March) but also 2.6% than the second quarter of 2014.
In short, it means economic growth is accelerating and, with ten successive quarters of growth, confidence should rise that we have finally put the Great Recession behind us.

The starting pistol has fired on the Louis Vuitton America's Cup World Series off Portsmouth.

Thousands of spectators are expected to pour into town to join in the four-day extravaganza at Southsea.

The highlight will be the breath-taking races pitting Sir Ben Ainslie’s British team Land Rover BAR against France, New Zealand, Sweden, Japan and the USA on Saturday and Sunday.

There will also be a whole host of entertainment over the weekend, including music and displays.

Don’t panic! Don’t panic! There’s been a lot of talk about interest rates going up but there’s no need to panic just yet.
The speculation has come after Bank of England governor Mark Carney said in a speech that interest rates could rise ‘at the turn of this year’.
But as ever the devil is in the detail; it’s important to note that he clearly said that once rates start to rise, they would go up slowly in small increments.

There’s just a week to go until the launch of the Louis Vuitton America's Cup World Series off Portsmouth.
The four-day extravaganza is being held at Southsea from Thursday July 23 to Sunday July 26
Sir Ben Ainslie’s British team Land Rover BAR will be racing against France, New Zealand, Sweden, Japan and the USA as the highlight of the weekend.
There will be a whole host of entertainment, including a display by the Red Arrows on Friday July 26 at 12.10pm.

New proposals announced today by the Government to revamp the planning laws in England are well overdue.
The ideas include giving developers automatic planning permission to build on disused industrial sites and giving Minsters powers to seize disused land.
Major housing projects could be fast-tracked in a bid to solve the country’s serious housing shortage.

We’ve had another busy week at McAndrew Martin as we look forward to the weekend.
July has continued where June left off with business continuing to increase as we head further into the summer.
The weekend papers are sure to be full of speculation about Chancellor George Osborne’s budget next Wednesday – the first Tory budget since 2006.
After five years of governing with the Lib Dems, the Conservatives will have the freedom to announce policies and measures that they want.

New figures have given us all a boost as we head into the second half of the year, especially for the construction sector.
As a leading firm of chartered surveyors and provider of property related services, we were pleased to see the Office for National Statistics (ONS) revise figures for UK growth upwards.
The ONS said that the economy grew faster than previously thought in the first quarter of 2015, because of better figures than first calculated for construction.

Sailing legend Sir Ben Ainslie has thrown open the gates of his new America’s Cup headquarters in Old Portsmouth.
The multi-million pound base celebrated its first day of operations with a reception for local dignitaries and team officials.
It was also announced that the Jaguar Land Rover has thrown its weight behind the America’s Cup bid with a major sponsorship deal which will see the team renamed Land Rover BAR.
With just over a month until the first races of the America’s Cup heats at the end of July, excitement is beginning to grow in the city.

New figures have given a fresh boost to the property market with improvements in construction and mortgage approvals.
An influential survey has revealed that confidence levels in the construction sector have reached a nine year high.
The CIPS/Markit Construction Purchasing Managers' Index (PMI) rose to 55.9 in May, up from 54.2 in April. Readings above 50 indicate growth.
It shows that the sector is bouncing back following a two-year low in April, and that stability is returning following the Conservative majority in the general election.

Mortgage application approvals have shot up to their highest level in nearly a year, according to bankers.
The British Bankers Association (BBA) says that the number of applications being signed off increased by 7% in April compared to March, meaning some 42,116 applicants were given the green light.
It is the fastest rise since September 2013, and the highest number for 10 months.
The BBA is optimistic that the trend will continue in the coming months, which is another welcome vote of confidence in the property market.


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